BrazilLLYC buys Colombia based consultancy Adaptative
LLYC, formerly Llorente & Cuenca, has bought Adaptative, a Colombia-based consultancy.
Bogota-based Adaptative provides research, design and implementation services for communications, marketing and public affairs projects. The firm, established in 2006 by Andrés Venegas, also helps its clients with innovation services such as innovation research, design thinking, growth hacking and prototyping.
According to Adolfo Corujo, a partner at LLYC, the acquisition in Latin America is “a very relevant step in our strategy to continue innovating the way how we serve the communication and public affairs sectors”.
The joining of forces adds a roster of clients to Llorente & Cuenca’s footprint in Colombia, including Alpina, Copa Airlines, Crepes & Waffles, El Tiempo and Helm Bank. In the country, LLYC already works closely for the likes of Bancóldex, Citi, BlackRock, Jhonson & Jhonson and SABMiller.
Adaptative will retain its brand in the market, but its team will move into LLYC’s Bogota office. Founder Andrés Venegas has been appointed a Managing Director and Director Research and Strategy, and has joined LLYC’s senior management team for its Colombia, Peru and Ecuador operations.
Financial details of the deal have not been disclosed. LLYC generates revenues of nearly $50 million across its offices in Spain, Portugal, North America and Latin America. LLYC’s Bogota office was founded in 2000, and today has a strong track record in sectors including consumer goods, grocery, mining, financial services and pharmaceuticals.
Earlier this year, LLYC appointed a new CEO in the form of Carlos Correcha-Price, previously a leader at rival Edelman. Correcha-Price replaced Mike Fernandez, who left the communications consultancy to join energy infrastructure company Enbridge.
